Canada-based real estate investor Ivanhoé Cambridge has expanded its Hub & Flow logistics portfolio with the acquisition of a warehouse in Hamburg, Germany, from ADF Asset Management, a South Korea-based asset management firm.
This transaction is the first for the Hub & Flow platform in Germany, the company said in a press release.
Located near the port of Hamburg, Europe’s third-largest port in terms of freight transport, this logistics asset with a total surface area of 114,760 m², on a freehold land, benefits from a strategic location in continental Europe.
Ideally positioned in the Allermöhe business park, one of Hamburg’s most established logistics areas, the warehouse benefits from access to a major highway network serving more than 7 million consumers.
The Hamburg warehouse has benefited from several initiatives to improve its ESG performance, such as the installation of solar panels on the roof, enabling to develop a power supply with immediate tracking of the energy created and consumed. Efficient office space, conference rooms and a roof terrace are further core components of the utilisation concept.
The asset is 100% leased to H&M Group.
“With the acquisition of this first logistics asset in Hamburg, we continue to reinforce our presence in Germany, one of the key markets for our growth in Europe”, said Christian Daumann, Vice President, Investments, Germany at Ivanhoé Cambridge.
“The growth of logistics is a major focus of our strategic plan, which aims, in particular, to triple the size of our logistics portfolio in Europe by 2025. We will therefore continue to build a resilient and diversified portfolio across the European continent,” he added.